A make-believe macroeconomic theory that rests on an ignorance of basic economic principles regarding the role of money in a free market economy.
A make-believe macroeconomic theory that rests on an ignorance of basic economic principles regarding the role of money in a free market economy.
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A theory which says that a currency issuer such as the U.S. can never go broke because ot can simply print money to pay off its debt.
The most potentially-damaging economic doctrine next to communism. MMT holds the value of the dollar constant as the ceteris paribus. MMT assumes the dollar never loses value no matter how much is printed and no matter how the dollar is distributed. If The Treasury launders it with unlimited debt first, the dollar is supposed to retain value. If the Fed becomes an accounts payable outsourcer, the dollar retains value. Thus, according to MMT, the Fed could print an unlimited number of dollars, then print more, and nobody would think twice about the value of the dollar. In reality, the scam… Read more »
A new version of the old myth that governments need not worry about restraining spending because a government-controlled central bank can pump money into the economy.